Crypto exchange behemothic Binance has hired Marking McGinness, former caput of international relations at the Dubai Fiscal Services Authority (DFSA), as its chief regulatory liaison officer.

According to an announcement issued on Thursday, Binance stated that McGinness will contribute to the company's push toward amend relations with regulatory bodies beyond the world.

Indeed, McGinness is the latest Binance hire with expertise in regulatory compliance and engagement with financial regulators.

Earlier his stint with the DFSA, McGinness was also the head of international relations at the Australian Securities and Investment Commission.

The former DFSA executive has likewise held advisory positions at the International Monetary Fund.

In a conversation with Cointelegraph, McGinness stated that he plans to leverage the experiences gained and relationships cultivated during the course of his career to improving Binance's standing with regulators, adding:

"I am looking forward to bringing this experience to Binance where I shall exist working with these industry leaders and policymakers to help not but in setting best practice and regulatory frameworks but too in broadening their agreement of the blockchain and crypto manufacture."

Commenting on McGinness joining the Binance compliance team, the visitor's CEO, Changpeng Zhao, identified the quondam DFSA executive's 30 years of experience working with regulators and other policymakers around the world.

Zhao chosen McGinness' appointment "a huge step forward" for Binance, especially as the business tries to navigate a stricter crypto regulatory climate.

Related: Binance hires former IRS-CI special agent to head intelligence partitioning

As previously reported by Cointelegraph, Binance has been forced to discontinue several crypto trading services in many jurisdictions around the world.

In September, Binance blocked fiat deposits and spot crypto trading services for users in Singapore. The platform has also stopped offering crypto futures trading in Australia.

The substitution behemothic continues to be the subject area of significant scrutiny from state agencies, many of which say Binance is not licensed to operate in their respective jurisdictions.

McGinness told Cointelegraph that Binance maintains a long-term commitment to the industry and is keen to create a "sustainable ecosystem around blockchain technology."

"In addition to localizing our operations and business to comply with local regulations, we are striving for productive dialogue with regulators so that nosotros tin can formulate best practices and regulations that are for the long-term do good of all participants," McGinness wrote to Cointelegraph.

Before in Oct, reports emerged that Binance may situate its headquarters in Ireland. The substitution has been the subject of "drifting" accusations by critics who say the platform'southward deportment are indicative of attempts to circumvent regulatory provisions.